4/1/25, 3:03 PM 303 NC POST LICENSING EXAM ACTUAL EXAM COMPLETE ACCURATE EXAM QUESTIONS WITH DETAILED VERIFIED ANS…
303 NC POST LICENSING EXAM ACTUAL EXAM
COMPLETE ACCURATE EXAM QUESTIONS WITH
DETAILED VERIFIED ANSWERS BEST AND
NEWEST ACTUAL EXAM /GRADED A+
Save
Terms in this set (104)
A Licensee may not earn is INACTIVE or EXPIRED
compensation when there
license - VIP
A Licensee can receive the license was current and active even if inactive of
compensation that was expired after
earned WHEN - VIP
A BIC may NOT pay a unless the entity has a firm license.
licensee's ENTITY
1) Must be in writing - as part of the agreement
2) Must be subject to Lender Approval in case of
loans
A Licensee can share
commission with parties
3) Disclosed on the Closing Disclosure
BUT
4) Is considered a gift
5) Only with principal or client (not others)
https://quizlet.com/1025611355/303-nc-post-licensing-exam-actual-exam-complete-accurate-exam-questions-with-detailed-verified-answers-best-and… 1/13
, 4/1/25, 3:03 PM 303 NC POST LICENSING EXAM ACTUAL EXAM COMPLETE ACCURATE EXAM QUESTIONS WITH DETAILED VERIFIED ANS…
1) from the BIC
Compensation ALWAYS 2) NO payment directly by the firm
flows through the firm
3) Brokers MAY NOT pay brokers directly except a
SOLE PROPrietorships
1) Best Practice to put in writing - Not a Rule
2) May pay referral fees to brokers in any state if
person has a CURRENT and ACTIVE license
When Paying Non-
Affiliated Brokers or Firms
3) DOCUMENTATION in broker's file:
- Written documentation regarding fee
- Proof of licensure
- Copy of a W9 for Brokerage Insurance or a 1099
When receiving Bonuses & Disclosure AND consent by Principal is REQUIRED
Incentives
KICKBACKS to
Settlement Service Providers
- BANKS
RESPA Prohibits
- APPRAISAL COMPANIES
- TITLE OFFICERS
- ATTORNEYS
Applies to:
- 1-4 units RESIDENTIAL PROPERTIES WITH A
RESPA STATUTE
FEDERALLY RELATED LOAN
- ENFORCED BY HUD
1) Vacant Land Transactions
2) Cash Transactions
RESPA does not apply to
(VIP)
3) Seller Financed Transactions
) Commercial Transactions
https://quizlet.com/1025611355/303-nc-post-licensing-exam-actual-exam-complete-accurate-exam-questions-with-detailed-verified-answers-best-and… 2/13
303 NC POST LICENSING EXAM ACTUAL EXAM
COMPLETE ACCURATE EXAM QUESTIONS WITH
DETAILED VERIFIED ANSWERS BEST AND
NEWEST ACTUAL EXAM /GRADED A+
Save
Terms in this set (104)
A Licensee may not earn is INACTIVE or EXPIRED
compensation when there
license - VIP
A Licensee can receive the license was current and active even if inactive of
compensation that was expired after
earned WHEN - VIP
A BIC may NOT pay a unless the entity has a firm license.
licensee's ENTITY
1) Must be in writing - as part of the agreement
2) Must be subject to Lender Approval in case of
loans
A Licensee can share
commission with parties
3) Disclosed on the Closing Disclosure
BUT
4) Is considered a gift
5) Only with principal or client (not others)
https://quizlet.com/1025611355/303-nc-post-licensing-exam-actual-exam-complete-accurate-exam-questions-with-detailed-verified-answers-best-and… 1/13
, 4/1/25, 3:03 PM 303 NC POST LICENSING EXAM ACTUAL EXAM COMPLETE ACCURATE EXAM QUESTIONS WITH DETAILED VERIFIED ANS…
1) from the BIC
Compensation ALWAYS 2) NO payment directly by the firm
flows through the firm
3) Brokers MAY NOT pay brokers directly except a
SOLE PROPrietorships
1) Best Practice to put in writing - Not a Rule
2) May pay referral fees to brokers in any state if
person has a CURRENT and ACTIVE license
When Paying Non-
Affiliated Brokers or Firms
3) DOCUMENTATION in broker's file:
- Written documentation regarding fee
- Proof of licensure
- Copy of a W9 for Brokerage Insurance or a 1099
When receiving Bonuses & Disclosure AND consent by Principal is REQUIRED
Incentives
KICKBACKS to
Settlement Service Providers
- BANKS
RESPA Prohibits
- APPRAISAL COMPANIES
- TITLE OFFICERS
- ATTORNEYS
Applies to:
- 1-4 units RESIDENTIAL PROPERTIES WITH A
RESPA STATUTE
FEDERALLY RELATED LOAN
- ENFORCED BY HUD
1) Vacant Land Transactions
2) Cash Transactions
RESPA does not apply to
(VIP)
3) Seller Financed Transactions
) Commercial Transactions
https://quizlet.com/1025611355/303-nc-post-licensing-exam-actual-exam-complete-accurate-exam-questions-with-detailed-verified-answers-best-and… 2/13
